Member Info for onsolidground

Thank you for a few more.

Looks ridiculously cheap now for 4.7% helium and 2.2% Hydrogen, free flowing to surface and without stimulation.

Give me some cheaper still please.

Its the same shares that are being traded over and over again.

Probably best to load up and just wait for the size of the prize RNS

Can't be too long until the lab results come back to complete the picture.

There's FUD

But then there's opportunity.

I'll happily sit for the lab results to come back to complete the picture then a nice size of the prize estimate and back up we go.

Same company, Same Pure Helium at 4.7% and Hydrigen at 2.2%

Just half the price it was a week ago

Took a few more to build a nice average.

A couple of things to add 5085.

~ Nothing has actually changed reference HE1's Unique Helium and Hydrogen Play at Itumbula was announced. It's still all there, lock, stock and two smoking barrels. Same find at Itumbula, same further plays and licence areas. It's just you can get it a full 1p or 40% cheaper than the 2.5p it was trading at the week before.

~ The 0.5M Cubic Feet per day - is actually as you say the MINIMUM flow rate - but also remember it is Free Flowing to surface at that rate and Lorna has also told us this will increase. No stimulation has taken place which should considerably enhance that flow rate.

Parkez, Noble are 6 weeks to 2 months ahead of us.

That nothing has changed in terms of the actual find of free flowing Helium 1's 4.7%, that's Pure Helium and no dirty gases and then you have 2.2% Gold Hydrogen on top.

That's except you get to buy into the same prospect for a full 1p or 40% cheaper than the share price was 1 week ago (2.5p) and when virtually all the same news and optionality was already out there.

I suspect the repeat 1M purchaser all the way through Friday spied the value now being presented, will be looking to profit from their purchase, and can probably possesses the means to raise the share price back up to a more reasonable fair value when they wish.

Noble Helium want to get to commercialisation of that massive free flowing Gas Cap asap as it will underpin the full of their project going forward.

Size wise it's huge and I suspect that will be a similar story for virtually every Helium find on the Rukwa basin, including our own. Just shows the size of upgrading that can take place, x6 in this instance

"9km north to south and 3km east to west. Early analysis indicates the probable gas cap lies approximately 85m below surface at the crest of the Mbelele structure, with evidence for a gas column up to 20m in high flow-potential reservoir

Here was the link I forgot off the last post.

https://www.investi.com.au/api/announcements/nhe/15a0bcfe-43a.pdf

The Expression of Interest route (EOI) seems to be the quickest route to securing a Rig if you need one pronto as it elicits quickly Who has one? Who has availability? and at What price?. Lets you quickly assess in a competitive manner what is readily available and much quicker than a tender process with closing dates.

Nice repeat business revenue stream there for our Rig downtime if we were to get the business and knowing the number of "Plays" that Noble are targeting. Pluses and minuses of course but it would repay our initial purchase outlay and also generate an income stream.

Nice Gas Cap x6 the size it was previously thought to be and 2 Reservoirs at Mbele the combined height of which equates to the height of the Rock of Gibralter.

And their comments on 5th March

" The next step is an upcoming appraisal well...(using a much lower drill cost rig)"

and

"The Company is now preparing to sample and flow test the probable free gas cap and underlying

helium saturated water in the Middle and Lower Lake Beds at Mbelele. Modelling, well design and

sourcing of onsite testing facilities are advancing well with the EOI process for fit-for-purpose locally

based low-cost drilling equipment attracting significant interest. "

Does anybody happen to know of anyone with a "hot-stacked rig" with recent drill success on the same geology and only 70km away?

You know what's coming !!

*ready to go state*

Scott22 I personally think a lot more is known here than is being let on - and particularly when Lorna Blaisse speaks of the "hot stacking" of our rig in a ready to state, towards the end of the interview and where she mentions interested parties getting in touch to view the Rig that we have.

Look at Noble Heliums update from the other day, 5th March, and they are after a Rig for an Appraissal well on Mbelele as they want to monetise a massive gas cap of 9km x 3km x 20 metres as soon as poss so they can to underpin their project going forward. Look what they say

"Modelling, well design and sourcing of onsite testing facilities are advancing well with the EOI (Expression of Interest) process for fit-for-purpose locally based low-cost drilling equipment attracting significant interest."

We at Itumbula are a mere 70km away from them at Mbelele.

https://www.investi.com.au/api/announcements/nhe/15a0bcfe-43a.pdf

Hire out the rig, fund your next one, whilst getting in all the kit you need. That would make perfect sense.

Always view the bigger picture and expect the unexpected.

You can understand why our next door neighbours want to get cracking with monetising what they have at Mbele.

Thats a pretty big Gas cap

Then they have the two Big reservoirs underneath which combined is the height of the the rock of Gibralter.

"Well logs now integrated with seismic and structural data shows the probable free gas cap at Mbelele

is emerging as a major structural feature stretching up to 9km north to south and 3km east to west.

Early analysis indicates the probable gas cap lies approximately 85m below surface at the crest of

the Mbelele structure, with evidence for a gas column up to 20m in high flow-potential reservoir. "

Come to us for a Drilling Rig. Same day @Noble.

"Right once again = YOU DO NOT NEED A RIG TO WELL TEST! Is that CLEAR????"

Correct.

But Noble Helium are going to be using one. Their quote.

“The next step is an upcoming appraisal well...(using a much lower drill cost rig)" .

Hire the rig out and you recoup your costs and it transforms the need to raise capital going forward.

makes complete sense.

Roger she didn't mention it for nothing.

Noble clearly want a RIG at lower cost that their last one and we have one "hot stacked" only 70km away and Noble they are looking to monitise quickly and self fund thereafter. Would make perfect sense and could give us avery nice revenue stream what with all their leads and other prospects.

Anyway I'm pretty sure I'll be right on this, hence my top up.

In any case I think its well oversold.

It wouldn't be petty cash Crusty that is the point and it would virtually let you fund the bulk of your next works.

I'd personally prefer to see it kept operational and those working parts moving. Condition it so its the same drill crew that were used last time around.

Far far better than having to raise monies.

I've just gone with my gut and taken a top up on this. If it comes off then I'll donate some of the gains to a charity of my choice.

Well done strop that quote makes it quite clear they see it as a future revenue stream.

Unless they are going to make it a museum piece that quote says they are going to monitise its hot stacking and rent it out.

"The acquisition of our own rig in July 2023 enabled us to commence our second drilling campaign and provides us with significant optionality going forward, whether that be to drill additional wells efficiently and quickly or as a future revenue stream for the Company"

It doesn't matter what you think or believe Crusty listen to what Lorna said

"We also have a small maintenence crew at site permanently who keep the rig ticking over and like any large machinery needs to be done and interested parties are getting in touch with a request to view the rig …"

Why mention it at all if you are not considering hiring it out?

Switch your ears on and listen

Anyone?

What's the going rate for hiring a drilling rig?